Public Sector Net Borrowing decreased less than expected

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Friday, Nov 20 2015

Public sector net borrowing excluding public sector banks decreased by £6.6 billion to £54.3 billion in the current financial year-to-date (April 2015 to October 2015) compared with the same period in 2014. In October public sector net borrowing amounted £7.5 billion, missing forecasts on decline in deficit to £5.5 billion.

Public sector net borrowing excluding public sector banks increased by £1.1 billion to £8.2 billion in October 2015 compared with October 2014. Public sector net debt excluding public sector banks at the end of October 2015 was £1,526.8 billion, equivalent to 80.5% of Gross Domestic Product; an increase of £70.4 billion compared with October 2014.

General government net borrowing decreased by £9.6 billion to £93.5 billion (equivalent to 5.1% of Gross Domestic Product) in the financial year ending March 2015 (April 2014 to March 2015) compared with the previous financial year. Central government net cash requirement decreased by £7.9 billion to £42.4 billion in the current financial year-to-date (April 2015 to October 2015) compared with the same period in 2014.

Sterling is currently being traded around 1.5290 area. Pair is likely to find support around 1.5250 handle and resistance above 1.5330 level. There will be no major data releases in the rest of the session.

More in this category: « German PPI fell by 0.4% USD - Major events in the week ahead »

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